Removed the financial barrier to entry to Russia of foreign flagged yachts

February 2, 20192min read

The Chairman of the government of the Russian Federation Dmitry Medvedev signed a decree on the abolition of customs protection on imports of motor and sailing yachts, rented abroad by citizens of Russia, Belarus and Kazakhstan. The document will come into force on 1 March. The text is available in the RBC.

The decree abolishes customs security for temporary imported to Russia sailing and motor yachts, leased time-Charter (with crew) or a bareboat Charter (without a crew) and is intended for non-commercial use. Under the decree of the fall sailing boats with motor and without motor, and motor yachts longer than 7.5 meters, equipped with decks and cabins. The measure is intended to contribute to the development of sailing and yacht tourism in Russia.

Entrance to Russia for yachts with foreign flags were theoretically open up to this, but the devil lay in the details: earlier citizens of Russia temporarily importing a yacht, were required to leave a Deposit of full duties on a boat, in conditions of heavy return of the money was actually a protective measure. While foreigners can enter Russian waters without Deposit that created the ground for numerous abuses.

Now ALL financial constraints are COMPLETELY removed, and nothing prevents ANY yacht owner to come to his native country on his boat. CONSIDERING THAT in the Mediterranean there are THOUSANDS of BOATS of medium And large SIZES belonging to the Russians, This will surely change in our domestic market.

The Ministry of economic development in 2015, announced plans to release temporarily the ammunition in Russia for leisure and sport yachts from taxes and customs duties. Previously, the amount of customs fees on import of foreign flagged yachts were calculated according to the formula: “rate of import customs duty + VAT+ customs fees for customs operations”.

Note that foreign yacht tourism in modern Russia is still virtually absent due to serious administrative and customs barriers. Until 2012 the movement on the Russian inland waterways yachts under foreign flags was prohibited in principle, at the legislative level. After the abolition of the law, except Russia existed except in North Korea, for the first time in the history of the yacht under a foreign — specifically, the Swedish — flag reached Moscow. Assistance in the organization of the historic voyage the owner of the boat was provided by the founder itBoat Nikita Gorchakov, as a historical transition told the news of the First channel and Russia Today:

At the moment the text of the resolution has not yet been published on the website of the Government of the Russian Federation, therefore, while a particular order of import to Russia of yachts with foreign flags are not well understood. Edition itBoat watching the development of the situation. We will update news as new information becomes available. And while it is possible to drink a glass of champagne: if all this is true, it really will give a powerful impetus to the development of the yacht infrastructure in Russia.